Valeura Energy, a Canada-based oil and gas company, has announced the commencement of oil production from its Nong Yao C development in the Gulf of Thailand.
The first three of seven development wells in licence G11/48 were opened for production on 15 August, the company said.
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Valeura holds a 90% operated working interest in the Nong Yao oilfield, which includes both the Nong Yao A and Nong Yao C developments.
The company anticipates a steady increase in production volumes, aligning with its objective to reach peak production rates of around 11,000 barrels per day (bpd) within the coming weeks.
This is an increase from the initial half of August, where production rates were approximately 7,200bpd.
Valeura’s strategy is to maintain these production levels for the remainder of the year.
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By GlobalDataValeura president and CEO Sean Guest said: “I am very pleased to see first production from Valeura’s first organic growth project in the Gulf of Thailand. We have executed an efficient drilling programme, which came in below budget and has achieved all of our geologic objectives, which we will now benefit from as we shore up the company’s total production output with this new production.
“Moreover, our drilling programme has successfully appraised several upside targets, which we expect will both contribute to reserves and resources when evaluated at year end, and may form the basis of future infill drilling to sustain volumes further into the future.”
Earlier in April, Valeura Energy reported three oil discoveries in the Gulf of Thailand.
The Nong Yao-13 well, located within the same G11/48 licence, was drilled to a measured depth of 5,399ft and unveiled more than 30ft of new oil resources across several intervals.
Additionally, the company made discoveries at two wells situated north of the Wassana oil field in the G10/48 concession, where Valeura holds a 100% interest.
The Niramai-4 well, drilled 1km north-east of the 2009 Niramai-1 oil discovery, reached a measured depth of 7,312ft and encountered more than 90ft of new oil across two reservoirs.
Furthermore, the Wanna North prospect, positioned on a separate fault block immediately north of the Wassana field, was also successful, revealing 40ft of new oil at a depth of 12,338ft.
